NZ sharemarket dragged down by THL, Spark

There were 95 decliners and 47 gainers over the whole market. (Image: Getty)

Mon, 06 May 2024

Tourism Holdings plunged 36%, and Spark fell nearly 5% on significant earnings downgrades that rattled the New Zealand sharemarket.The S&P/NZX 50 Index fell sharply after the early-morning announcements and never recovered, closing at 11,820.78 – down 117.3 points or 0.98%.There were 95 decliners and 47 gainers over the whole market on strong volumes of 47.27 million share transactions worth $140.04m.Spark was down 23c or 4.87% to $4.49 on trade worth $14.26m after reducing its full-year operating earnings (Ebitdai) guidance to $1.17-...

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